CB goes for only $ 69 m SLDBs

Wednesday, 14 March 2018 00:00 - - {{hitsCtrl.values.hits}}

The Central Bank has opted to go for a lower value of Sri Lanka Development Bonds (SLDBs) at the latest auction.

The SLDB auction was for $ 75 million of three years three months, four years and five years tenor with a floating rate arrangement and a fixed rate to be determined through competitive bidding. However, the Central Bank accepted only $ 69 million worth of bids out of the $ 179 million received.

It accepted $ 42.087 million worth of bids out of the $ 69.58 million received for five year floating at a weighted average margin (bps) over a six-month LIBOR of 407.23 and $ 27 million out of $ 31.51 million bids received for four year floating at a weighted average margin of 381.67. It also accepted $ 0.2 million bids received for five year fixed at a weighted average fixed rate (bps) of 590.

There were $ 78.07 million worth of bids for three years three months SLDBs but the Central Bank did not opt for those.